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- ItemOpen AccessAccountancy, Society and Economic Development(Obafemi Awolowo University Press, 1977-04-26) Samaratunga, Y. A. D. S.Accountancy, society and economic development charted, in as yet somewhat uncharted seas on the frontiers of accounting territory, the role of accountancy in relation to society in general and to economic development in particular. Therefore, brought into focus the potential uses of the accounting methodology not only as a vital instrument of economic development per se, but also as a social force which should, increasingly in the years to come, help to improve the 'quality of life' of mankind in the widest possible context.
- ItemOpen AccessAn Appraisal of the Conduct of Nigeria's Foreign Policy from 1999 to 2003(2015-05-05) Olaleye, Olabisi OluremiThis study examined how Nigeria's foreign policy was conducted in a democratic setting between 1999 and 2003. The study further assessed the effects of Nigeria's socio-political and economic situations on the country's image, and foreign policy, and how the influence and prestige of the country were restored on the international scene. This is with a view to understanding the institutions, structures and process of conducting Nigeria's foreign policy in relation to government’s concern for Africa's political stability, peace, unity and development. The study used primary and secondary data. Primary data were obtained through interviews and discussions with key officials of the Federal Ministry of Foreign Affairs, Abuja such as: the Under Secretary of African Affairs and Head, Department of Planning, Research and Statistics, foreign policy analysts in the fields of Political Science and International Relations and History. Secondary data were sourced from documented speeches, seminar papers and conference papers, newspaper articles, magazines, government official Gazettes, memoirs, relevant textbooks and other relevant data from the internet were used in the research. Data collected were analysed using contextual method. The result found out that between 1999 and 2003, the conduct of Nigeria's foreign policy was geared towards ensuring Africa's political stability, peace, unity and development. It also revealed that prior to 1999 Nigeria's socio-political and economic situations negatively affected the nation's image and foreign policy conduct so much that Nigeria became a pariah nation and there was untold hardship on the entire citizenry during the time. Finally the result brought to the fore how the conduct of Nigeria's foreign policy was vigorously pursued to restore the influence and prestige of the country in the comity of nations in terms of economic reforms, war against corruption and improved socio-political situations. It was also revealed that the President had an overwhelming influence over other institutions like the National Assembly, Federal Ministry of Foreign Affairs, Ministry of Co-operation and Integration of Africa, and the Nigerian Armed Forces in the formulation and implementation of Nigeria's foreign policy. It was concluded that the conduct of Nigeria's foreign policy has improved the country's global image and that Africa has become more united and politically stable.
- ItemOpen AccessAn Assessment of the Factors Influencing the Use of Debit Card Electronic Payment System in Lagos State, Nigeria(2015-08-24) Adeoti, Osuolale OlugbadeThe study examined the impact of demographic and socio-economic characteristics of consumers on the use of debit cards in Lagos Slate. It also investigated consumer consumption patterns and payment choices and determined the motivational factors for using debit cards. This was with view to analyzing the extent to which debit cards serve as a method of behavioural restraints. Primary data were used for the study. The targeted respondents were super markets, fast foods, Restaurants, Recreation Clubs, Petrol Stations, Hotels, Pharmaceutical Stores and other business organisations that accept debit cards apart from cash as a mode of payment in the 20 Local Government Areas (LGA) of Lagos State. Three hundred respondents comprising 15 from each LGA were purposively selected for the study. The questionnaire was designed to elicit information on socio-economic characteristics, motivational factors, substitution patterns and payment choice drivers, and the extent to which debit cards serve as a method of behavioural restraints. The data generated were analyzed using descriptive and inferential statistics. The result indicated that cash constituted 65.3 percent as the commonest form of payment, followed by cheque (15.0%); debit card (8.0%) and credit card (2.0%). The motivational factors for using debit card were found to be: reduction in bulkiness (72%); reduction in armed robbery (71%); convenience (70%): time saving (70%); improvement of Bank Services (50%); and encouragement of disciplined spending (43%). The effect of behavioural restraints exhibited as a result of using debit cards revealed encouragement of prompt settlement of bills (76%); reduction in the abuse of the Naira (71%); discouragement of unplanned spending (53.6%); and curtailment in spending pattern (30%). The study also revealed some constraints militating against the use, of debit card by non-users, namely: non-availability (32.03%); lack of knowledge of its acquisition (24.18%); insecurity (15.69%); and lack of awareness about existence (5.22%). Results from the analysis of variance (ANOVA) indicated that six out of seven motivational factors: fear of armed robbery (F = 59.3. p < 0.05); time saving (F = 64.9, p < 0.05); improve bank services (F = 18.6, p < 0.05); conveniences (F = 72.6, p < 0.05): reduce bulkiness (F = 93.5, p < 0.05); availability (F = 59.1, p < 0.05) were significant. Also six out of seven behavioural restraints factors included in the model: over spending (F = 16.5. p < 0.05), reducing unplanned spending (F = 15.0, p < 0.05), reduce buying regret (F = 6.8, p < 0.05), encourage financial planning (F = 10.4, p < 0.03). prompt debit settlement (F = 16.8, p < 0.05), and disciplined social engagement (F = 7.2, p < 0.05) were statistically significant. The logit regression showed that consumer life-style and status characteristics such as education, income, employment status. home ownership, family size, age, work experience and external orientation) were found to significantly influence the odds of debt card use (P < 0.05, odd ratio of 3.84). The study concluded that the use of electronic payment system such as debit card improved banking services, transparency, financial discipline and cost effectiveness for the banking industry.
- ItemOpen AccessAn Assessment of the Management and Funding of Mass Education Agency (Mea) in Three Selected Local Government Areas (LGAS) of Osun State(2015-05-18) Oyediji, Felix OladosuThe study investigated the operations of the Mass Education Agency (MEA) of Osun State and assessed the roles of the beneficiaries and other stakeholders in its funding. This was with a view to evaluating the impact and problems of MEA programme in the State. Primary data were collected through questionnaire and interview. Two sets of questionnaire were administered on the beneficiaries and officials of Osun State Mass Education Agency (OSMEA) respectively. The study population was 1,916 comprising 1,826 beneficiaries and 90 officials. Structured questionnaire was administered on 183 representing 10% of the randomly selected beneficiaries sampled. Out of these, 151 were retrieved, representing 82.5%. Out of the 90 OSMEA officials, 9 representing 10% were sampled and the questionnaire administered on them was retrieved. In addition, 27 respondents were purposively selected for personal interview. These included the Director, the Deputy Director and the Secretary of OSMEA. Two (2) officials and six (6) beneficiaries were selected from each of the selected LGAs. Secondary data were extracted from books, academic journals, relevant official documents as well as government publications from the Ministry of Education at Federal and State levels. Data collected were analysed using descriptive statistics. The result showed that mass education played a vital role in the eradication of illiteracy and awakened the critical awareness of the beneficiaries in their environment. It revealed that OSMEA was faced with many problems including inability to pay the Instructors' salaries (N1000/instructor/month and the supervisors' honoraria (N1,500/supervisor/month) as well as inadequate supply of vocational and instructional materials as confirmed by 82% of the respondents. This situation arose because none of the three tiers of government contributed to the funding of the agency despite the arrangement by which the federal government was supposed to contribute 65%, state government 25% and local government 10% respectively. It also showed that the change of focus of the Donor Agencies like UNDP/UNCEF from mass education to social development negatively affected the finances and viability of OSMEA. This change of focus had a negative effect over the management as mass education officials stationed in each of the 30 LGAs of Osun State were deployed to the Teaching Service Commission (TESCOM) as class teachers. The study further revealed that beneficiaries and other stakeholders (churches and mosques) made financial contributions to assist in paying the salaries and allowances of instructors (N1000/instructor. month) and supervisors (N1,500/supervisor/month) in their respective established mass education centres. This was confirmed by 80% of respondents from Ayedaade, 74% from Irepodun and 83.3% from Ife Central local governments areas. The study concluded that the roles played by the beneficiaries and stakeholders were not enough to solve the problem confronting the mass education programme and that the funding arrangement for the programme was inadequate.
- ItemOpen AccessAn Assessment of the Role of Community Based Organisations (CBOS) in the Development of Ile-Ife(2015-03-20) Elutilo, Taye AdeboyeThe study investigated the structures, functions, achievements and problems of CBOs (social, primordial and occupational ) in Ile-Ife. This was with the view to revealing the weaknesses and prospects they possess for socio-economic development of the community. Primary and secondary materials on CBOs such as constitutions of the CBOs, minutes of meetings, journals, archival materials in the private libraries of some of the CBOs were consulted and utilized. For the primary data, three sets of questionnaire were used for the study, the first set comprised ninety questionnaires administered on three key officials (Chairmen, Secretaries and Treasurers) of the thirty CBOs selected for the study. The second set of questionnaires were administered on each of the five Quarters' Heads in Ile-Ife and ten persons purposively selected (on equal sex basis) from each of the five quarters. The third set of questionnaires was administered on six management staff of Community Development Department (CDD) of Ife East and Ife Central Local Governments. A total of 30 CBOs were examined in the ratio 16:14 respectively for Ife Central and Ife East LGAs. Data were analysed using frequency counts, percentages and tables. The result revealed that 83% of CBOs identified for the study were primordial; occupational 10% and social 7%. Their activities were carried out at committee levels such as finance, work, disciplinary and social; it was further revealed that there was inadequate finance from the local governments for the CBOs' projects. The study showed that only 5% of the total money spent on CBOs' projects especially in 2005 was derived from grant-in –aids received from local government councils, while levies, dues and fines generated from CBOs' members constituted their revenue. The major achievements of the CBOs were in the provision of social services such as construction of culverts, health centres, primary schools, community halls and erection of electric poles. It was also found that few CBOs' projects were not properly implemented because of lack of honestly and coordination among the CBOs' members, politicization of the delivery of social services, poor government policies and incessant communal clashes. The study concluded that the CBOs played credible roles as agents of development given their relevance and acceptability as partners in governance and community building.
- ItemOpen AccessAn Assessment of the Role of Governmental and Non-Governmental Organisations in the Provision of Water Supply in Umunneochi and Isuikwuato Local Government Areas of Abia State, Nigeria(2015-06-05) Umezurike, Samuel ChukwuemekaThe study assessed the role of governmental and non-governmental organizations in the provision of water supply in Abia State with a view to ascertaining their contribution in the provision of portable water and constraints therein. It further identified the various sources and quality of water supply and health related problems in Umunneochi and Isuikwuato Local Government Areas of the state. Data were obtained from both primary and secondary sources. Primary data were generated through oral interviews_ focus group discussions and participant observation. The population of the study comprised 94 communities out of which 25 communities were randomly sampled. Ward leaders from each of the 25 sampled communities were interviewed. Interview guides were used for executive members of the existing 8 community development associations at the town level in the two LGAs. The available 10 water vendors; 5 from each of the two LGAs were also interviewed. On the official side, the General Manager and the Head of the Water Resources Department of Abia State Water Board as well as the Chairman and the Head of Water and Sanitation Unit in both Umunneochi and Isuikwuato Local Government Areas were also interviewed. Three Focus Group Discussions were conducted with selected women and children in 12 of 25 sampled communities. The data collected were analyzed using descriptive statistical methods. The result showed that there were 9 official pipe borne water schemes in the two LGAs constructed by the Federal Government and the old Imo State Government when the two LGAs were under Isuikwuato LGA. The study revealed that the water schemes collapsed due to poor maintenance, corrupt practices among the authorities responsible for the management as well as non-involvement of the host communities in their operation and maintenance. Consequently, households that could not afford to buy a 20-litre can of water at the cost of N25.00 trekked long distances of about 10 kilometres (to and fro) to fetch water from streams, rivers and springs. The results showed that some of the households constructed non-mechanized rainwater harvesters. The study also showed that there was loss of man-hours which had adverse effect on educational development of the children as they spent several hours in fetching water for their household. The result of focus group discussions emphasized the burden that households bear in search of water, while pointing out health risk associated with water from streams, rivers and springs. In addition, the study showed that, the respective community development associations (CDAs) were not concerned with water provision except in Akoli-Imenyi under Isuikwuato LGA where the existing CDAs and the traditional ruler constructed a bore-hole on the basis of 60:40 percent fund ratio respectively. Other CDAs assisted in maintaining the traditional sources of water. These traditional sources of water were inadequate both in quality and quantity as there were reported cases of water borne diseases such as diarrhea and cholera in the study area. The study concluded that governments abandoned their role in the provision of water supply in the study area, while households, water vendors and a number of CDAs emerged as the main providers of the same service for the people.
- ItemOpen AccessAn Assessment of Women Empowerment Programmes in Rural Areas of Benue State(2015-03-27) Agbo, MaryThe study examined and appraised the programmes and projects of government, non-governmental organizations (NGOs), Civil Society Organizations (CSOs) and international agencies in empowering women in the rural areas of Benue State. It also identified the various problems and prospects associated with the empowerment of the rural women, with a view to examining the trend of women empowerment and effectiveness of the policy and programmes in the rural areas of the state. Data were collected from both primary and secondary sources. Primary data were collected through questionnaire, in-depth interviews, participant observations, and focus group discussions (FGDs). The study area covered six rural local government areas (LGAs), namely, Katsina-Ala, Ushongo, Gwer, Guma, Oju and Ohimini which were purposively selected from the three senatorial zones in the state. A random sampling technique was used to select three wards from each of the six LGAs, making a total of 18 wards. A total of 720 respondents were randomly drawn from a target population of 7,200 through Lottery method. Another set of questionnaire was administered on leaders and outstanding members of CSOs, while top officials of government ministries, NGOs, and international agencies involved in the programmes were interviewed. Twelve FGDs were conducted in four villages - Okpiko, Oglewu, Mbagba and Ikov – which were purposively selected because these were the most rural communities in the study area. The data collected were analyzed using descriptive and inferential statistics. The ZY Index Table was utilized to analyze the FGDs. The results showed that majority of the rural women (61%) were farmers with 51% earning less than N5000 per month. It also revealed that 49.4% of the women had no formal education. The study further showed that the government, non-governmental organizations (NGOs), Civil Society Organizations (CSOs) and international agencies' programmes in agriculture and health did not achieve their desired objectives of empowering women in rural areas of Benue State. Agricultural inputs were not sufficiently provided to women farmers. Processing and storage facilities as well as extension services were also not adequately provided. Seventy-nine percent (79%) of the women respondents were of the opinion that agricultural programmes did not produce any noticeable impact on their crop yield, income, and their standard of living. The study showed further with regards to health programmes of the four organizations, that the poor attendance of women in antenatal clinic was due to inaccessibility of medical facilities (x2 = 69.5, P < 0.05). Also, 65% of the respondents claimed that family planning services had no impact on them. Furthermore, 71% of the respondents claimed that the campaign against female genital mutilation were administratively ineffective. However, the educational programmes of the four organizations succeeded in sensitizing parents to enrol and retain girls in schools. This was evident in the significant relationship in the enrolment figures for girls into primary and post primary schools between 1991 and 2005 (r= 0.95, p<0.05 and r=0.63, p<0.05), respectively. The enrolment of the rural women in adult literacy classes and the vocational education had increased between 1995 and 2005 (r = 0.997; P < 0.05). It was also revealed that the problems confronting the programmes were inadequate funding and lack of operational facilities by government, NGOs and CSOs. It was concluded that the programmes of empowering women in rural areas of Benue State succeeded in education but failed in agriculture and health.
- ItemOpen AccessA Comparative Study of Local Government and Community-Based Organisations in the Delivery of Social Services in Selected States of Southwestern Nigeria (1997-2005)(2015-05-18) Popoola, Oladepo OlufemiThis study examined and compared the delivery of social services by Local Government and Community-based Organizations (CBOs) in selected states of Ekiti, Ogun and Osun of Southwestern Nigeria between 1997 and 2005. The social services which the study focused on were: road, water, electricity, health care and education. This was with a view to ascertaining the usefulness of co-production strategy to the delivery of social services. Both primary and secondary data were used for the study. Primary data were obtained through the use of structured questionnaires, oral interviews and observation techniques. Four hundred and forty questionnaires were administered on the leaders (Chairmen, Secretaries and Treasurers) of Community Development Councils (CDCs) using stratified sampling technique. Also, five hundred and eighty two questionnaires were administered on the senior staffs of local government that were directly involved in the delivery of social services using stratified sampling technique. The questionnaires assessed respondents' opinions not only on the performance of local government and CBOs in the delivery of social services, but also on local government delivery vis-a-vis community delivery. The questionnaires also assessed respondents' views on the relevance and usefulness of co-production strategy in social service delivery. Out of a total of one thousand and twenty two questionnaires administered to the two categories of respondents, nine hundred and twenty (90 percent) were retrieved. To complement the data extracted from questionnaires, interviews were also conducted with eighteen CDC leaders and nine local government senior staff. The interviews focused, not only on how local government and CBOs delivered social services, but also on the need for collaboration between local government and CBOs in the delivery of social services. With the use of observation techniques, some projects on road, water, electricity, health care and education were surveyed and photographs of some of them were taken. Secondary data were collected from relevant textbooks, government documents and records of social services delivered. The data were analyzed using both descriptive and inferential statistics. The results showed that the performance of local government (according to the perception of the CDC leaders) in the delivery of social services had been unsatisfactory (χ2= 236.57, P < 0.01). Similarly, according to the perception of the LGSS, the performance of local government had been unsatisfactory (χ2= 327.56, P < 0.01). The results also showed that the performance of CBOs (according to the CDC leaders) in the delivery of social services had not been satisfactory (χ2= 207.68, P < 0.01). In the same vein, according to the perception of LGSS, the performance of CBOs in the delivery of social services had not been satisfactory ( χ2= 244.88, P < 0.01). Furthermore, it was also revealed (according to the perception of CDC leaders) that there was no significant difference between local government and CBOs in terms of which institution delivered more social services than the other ( χ2 = 73.18, P < 0.01). Similarly, according to the perception of LGSS, there was no significant difference between local government and CBOs in terms of which institution delivered more social services than the other ( χ2 = 61.49, P < 0.01). Lastly, it was revealed (according to the perception of CDC leaders) that adoption of co-production strategy between local government and community-based organizations led to a more effective approach in the delivery of social services (χ2 = 604.14, P < 0.01). Similarly, according to the perception of LGSS, adoption of co-production strategy between local government and community-based organization led to a more effective approach in the delivery of social services ( χ2 = 571.49, P < 0.01). The study also identified inadequate funding, misappropriation of fund, wastage of fund, lack of accountability and transparency, lack of co-ordination, politicization of social services delivery and cumbersome administrative process of social service delivery in local governments as major impediments hindering effective delivery of social services. The study concluded that the performances of Local Government and CBOs in the delivery of social services in selected states of Southwestern Nigeria (Ekiti, Ogun and Osun) between 1997 and 2005 were unsatisfactory.
- ItemOpen AccessThe Contributions of Selected Women Occupational Groups to Rural Development in Ejigbo and Ife Central Local Government Areas in Osun State, Nigeria(2015-09-29) Fagbewesa, Esther OlapejuThe study identified women occupational groups involved in rural development in Ife Central and Ejigbo Local Government Areas, and examined their organisational structure and mode of operations. It also assessed the contributions of the women occupational groups in promoting rural development. This was with a view to identifying the problems confronting and inhibiting these groups in demonstrating their full potentials in rural development. Data were collected from primary and secondary sources. Primary data were collected through questionnaire and in-depth interviews. Two local governments in Osun State namely, Ife Central and Ejigbo Local Government Areas were purposively selected for the study. Ten occupational groups were also purposively selected, namely, Gari Processors, Palm oil Processors, and Cloth weavers, Hairdressers, Tailors, Yam Sellers, and Provision Sellers, Kolanut Sellers, Jewellery Sellers and Fish Sellers. Two hundred (200) respondents from each of the two local governments were randomly selected for the study. Twenty percent of membership of each group was randomly selected in each local government. In-depth interviews were conducted to seek information from the five executive members from each of these occupational groups namely, the President, Vice President, Secretary, Financial Secretary and the Public Relation Officers who were purposively selected based on their knowledge of the group activities. Secondary data were also obtained from textbooks, journals, and government gazettes. Data collected were analysed using descriptive statistics. The results showed that all the occupational groups had uniform organisational structures comprising the President, Vice-President, Secretary, Treasurer and the Public Relations Officer. In each of the groups, the women leaders were responsible for designing the project, while those that were involved in the implementation and monitoring of the programmes were the committees set up by the group women leaders. However, the study showed that the mode of operations of the groups differed in each of the local governments. For instance, 68% of the respondents in Ile-lfe, indicated that the women groups preferred to meet monthly as opposed to 32% that met weekly. However, in Ejigbo, 93% of the respondents indicated that meetings were held monthly and only 7% preferred weekly meeting. Furthermore, 98% of respondents in Ile-Ife attended meetings regularly while all the respondents in Ejigbo attended meetings regularly. The study also showed that all the groups made monthly contribution. In Ile-Ife, 99.5% of the members made monthly contributions of between N1,000 to N10,000, while only about 0.5% made higher contributions. However in Ejigbo, all the members contributed between N1000 and N10, 000. The study revealed that the monthly contributions were used for the purposes of business (70.4% and 82.9%), projects (8.2% and 5.5%), food (5.6% and 1.5%), and payment of school fees (15.8% and 5%) for Ife Central and Ejigbo Local Government Areas respectively. Activities performed by the groups also varied from construction of Town Halls and establishment of Cooperative loans (79.4% and 82.6%), to construction of Gari processing factory (10.6% and 9.2%) and construction of Palm Oil processing factory (10.1% and 8.2%) for Ife and Ejigbo Local Government Areas, respectively. The major challenges confronting the groups were financial (99.4% and 99%) for each of the local government areas respectively. The result also showed that the local communities were not adequately involved in the design, implementation, and monitoring of projects. The study concluded that the contributions of women occupational groups to rural development were constrained mostly by finance, inadequate project monitoring process, and non involvement of the target groups in the determination of projects to be established for women.
- ItemOpen AccessEffects of Globalization on Market Structure, Conduct and Performance in the Nigerian Banking Industry(2015-04-02) Akinola, Grace OluyemisiThe study assessed the effect of globalization on the structure of Nigerian banks; evaluated the effects on the market conduct; and examined the effect of globalization on product formulation and promotional strategies with a view to appraising the effects of globalization on the performance of Nigerian banks. Both primary and secondary data were used for the study. Primary data were collected through questionnaire administration. Data on variables such as number of marketers, financial strength of each bank, on-line banking activities and the number of products were collected from all the 25 post-consolidation banks in Nigeria. Two sets of questionnaire (structured and unstructured) were administered on marketers and customers of the banks. Interviews were also conducted with top management staff in the marketing departments of the banks. Random sampling technique was used in selecting 30% of marketers, while purposive sampling was used to select two top management staff in the marketing departments at the headquarters of each bank as well as fifty customers each from the 25 banks. Secondary data were obtained from the Annual Reports and Statement of Accounts for the existing banks covering the study period. Other sources included the Central Bank of Nigeria Statistical Bulletin, Central Bank of Nigeria Annual Reports and Statements of Accounts, Federal Office of Statistics, Research and Data Services Limited, Agusto and Co. Data Services limited, Annual Reports and Statements of Accounts of Nigeria Deposit Insurance Corporation and the Nigerian Stock Exchange Factbook. Both descriptive and inferential statistics were used to analyze the data. The results showed that the Nigerian banking industry was competitive with Herfindahl Hirschman Index ranging between 752.7 and 1299.48. Furthermore, the result showed that the Nigerian banking industry was highly concentrated in 1999 (CR3=58.42) but moderately concentrated between 2000 (CR3 =36.74) and 2007 (CR 3 = 48.78). Also, the result revealed that globalization had no significant effect on the structure (t=0.35, p>0.05) and the conduct (t= -0.38, p>0.05) of banks in Nigeria. However, the result showed that globalization succeeded in changing the criteria for new product formulation from top managements' final decision. As reported by most of the respondents, the new criteria included consideration of growth potential of market (72.8%), potential profitability of market (63.9 %) and competitiveness of market (57.2%). The phenomenon also led to increase in the number of products from 2 or 3 in 1999 to 20 in 2007; and a reduction in service time from an average of 30 minutes in 2001 to 20 minutes in 2007 across the industry. Finally, the study revealed that globalization had a significant and positive effect on the performance of banks (t= 2.04; p<0.05). The higher profitability was a result of wider market coverage of banks in the country, both locally and internationally. The study concluded that globalization though had no significant effect on market structure; nonetheless it greatly improved the performance of banks in Nigeria, as well as their product formulation and promotional strategies.
- ItemOpen AccessThe Effects of Nigeria's Membership of the World Trade Organization (WTO) on the Textile Industry in Nigeria(2015-06-05) Udeoji, Ebele AngelaThis study examined the political and economic factors that influenced the Nigerian membership of the World Trade Organization (WTO) and the effects of the membership on the textiles industry since 1995. It also identified the problems of the industry and their linkages to its membership of the world body with a view to ascertaining whether or not its membership is benefiting maximally. The study used both primary and secondary data. Primary data were gathered through questionnaire and unstructured interviews. Six textile mills were purposively selected representing about 50% of existing mills in the country. A total of 150 staff were randomly selected out of five thousand, five hundred staff and were administered with the questionnaire. Twelve senior officials of the companies were purposively selected and interviewed, two from each factory for insight into the activities and problems of the companies. Focus Group Discussions (FGDs) were held with senior officials of Manufacturers Association of Nigeria, National Association of Chambers of Commerce, Industries, Mines and Agriculture and the National Union of Textile and Garment Workers in order to elicit information from them. Secondary sources of data were collected from the federal office of statistics, central bank of Nigeria, statistical bulletin, annual reports and in-house magazines. Books, journals, published and unpublished conference proceedings, government official gazettes and the internet were all used. A content analyse was also carried out on the qualitative data obtained. The data were analysed using descriptive statistics. The result showed that 76.2% of respondents indicated that WTO policy of free trade affected their companies leading to closure of the factories. Also, the study discovered that it was the Nigeria pariah status during the military government and the chaotic political and economic atmosphere in Nigeria and hostility of the international community towards the then military government that made Nigeria to rush to a hasty ratification of the WTO pact. Furthermore, the study revealed that the textile industry in Nigeria had endemic problems such as poor infrastructure, obsolete equipment (80%), high prices of product (70%) accessibility of raw materials (40%) water and electricity supply (30%) which pre-dated its membership of the world body, but the situation worsened after Nigeria became a member. The study concluded that Nigeria's membership of the World Trade Organization had a negative effect on the textile industry.
- ItemOpen AccessAn Empirical Analysis of the Capital Structure of Selected Quoted Companies in Nigeria (1990-2004)(2015-05-19) Salawu, Rafiu OyesolaThis study carried out an empirical analysis of capital structure of selected quoted companies in Nigeria. Specifically, it examined the effects of the identified determinants of capital structure of quoted companies on leverage and also analysed the impact of capital structure on profitability of quoted companies in Nigeria. This was with a view to establishing the pattern of capital structure choice and the underlining factors influencing it. This study used secondary data collected from the Annual Report and Accounts of the sampled firms and Fact Books published by the Nigerian Stock Exchange. A sample of 50 non-financial quoted companies was randomly purposively selected for analysis. The Pooled Ordinary Least Squares (OLS) model, Fixed Effect Model (FEM) and Random Effect Model (REM) were used in the analysis, which covered the panel data from 1990 to 2004. In addition, causal relationship between capital structure and profitability was tested using Granger-causality Tests. The empirical result showed that debt financing for listed companies in Nigeria corresponds mainly to a short-term debts nature, with a mean value of 60%. Also, profitability had experienced a downward trend in growth with the average growth rate standing at a negative 41%. Moreover, the impact of capital structure on the profitability was not significant (t = -0.6709, p>0.05), but there was a positive relationship between profitability and short-term debt. The study showed that, there was a significant positive relationship between asset structure (tangibility) and long-term debt ratio (t = 2.228, p<0.05) and a significant negative relationship between asset structure and short-term debt ratio (t = 4.510, p = 0.001) for the overall sampled groups. In addition, collateral appeared to influence all bank borrowing in Nigeria, whether short-term or long-term. More importantly, the size of the company was found to have a statistically significant positive relationship with both total debt and short-term debt ratios for the sample (with t = 3.0572, p<0.05 and t = 3.0150, p<0.05 respectively). Thus, the chi-square statistics shows that profitability has significant causal effect on leverage (x2 = 55.168, P<0.01). Similarly, there was a significant causal nexus from leverage to profitability (x2 = 9.377 and P<0.05). Therefore, there is a significant bi-directional causality between profitability index and leverage i.e. capital structure. The study concluded that profitability, tangibility and size of the company were the major determinants of the capital structure of Nigerian quoted companies and they were either financed by equity or a mix of equity and short-term debt. Nigeria firms should adopt appropriate steps to lengthen the maturity structure of corporate debt.
- ItemOpen AccessIncorporating Environmental Costs into Nigerian Oil and Gas Accounting(2015-05-15) Owolabi, Amos AkintolaThis study evaluated the extent of awareness and protective measures by stakeholders of environmental costs in the Nigerian oil and gas industry. It also identified and assessed the environmental factors in the industry that need to be accounted for. These efforts were with a view to developing an accounting model for measuring environmental costs in the industry. Data were obtained through two sets of questionnaire survey. The first set evaluated the extent of awareness and protection measures of environmental costs in the oil and gas industry using a 5- point Likert scale. The second set focused on the identification, assessment and evaluation of the perceived impacts of environmental factors by stakeholders in the oil and gas industry. Forty-two environmental variables obtained from literature and confirmed by experts in the industry were included in the survey questionnaire. Out of a population of 3,200; 540 respondents were selected through stratified purposive sampling from the relevant stakeholder groups. These included accountants, engineers, scientists, health officers, environmentalists and other managers from the five upstream and eight downstream oil companies, one state ministry of environment from each of the eight oil producing states, Federal Ministry of Environment, oil community, oil services companies, Nigerian National Petroleum Corporation, Department of Petroleum Resources and Non-Governmental Organizations. Data from the survey were subjected to descriptive and inferential statistical analyses/secondary data on estimates of revenue and costs associated with recently completed/on-going oil sites were obtained from the records of the stakeholders. These constituted the input data set used in developing the accounting model. In addition to this data set, the forty-two environmental variables identified in the second questionnaire were parsimoniously reduced to a five-factor solution using factor analysis. The results of the study indicated that the respondents demonstrated a high degree of awareness of environmental issues in the industry (overall mean rating of 4.41 out of a maximum of 5.00 on a Likert scale) and a positive attitude towards environmental costs and liabilities (overall mean rating of 3.51). From the forty-two environmental variables, a five-factor solution with their factor loading was obtained from the factor analysis. These were: XI = 'impact on public health (7.95%)', X2 = `occupational health impact (39.04%)', X3 = `impact on agricultural produce (3.24%)', X4 = `marine and fresh water impact (5.5%)', and X5 = `building and infrastructural materials (11.07%)'. These five factors were employed to develop a multi linear regression accounting model: S = 1758.4325 + 3.9460496X1 – 28.07389X2 + 7.3036634X3 + 0.5642708X4 + 23.019651X5, where, S was revenue and X was costs. The developed model was later validated using 10 sets of virgin data. The result indicated low percentage deviation of the model from the actual values (largely within ± 15%). Also the standard measures of accuracy of the regression model were high (R2 = 0.937; F = 86.8; P < 0.05) suggesting its high predictive ability. In conclusion, the study showed that there was a high degree of awareness to environmental issues and a positive attitude towards environmental costs and liabilities in the Nigerian oil and gas industry. The result also concluded that environmental costs could be incorporated into a revenue accounting model.
- ItemOpen AccessThe Management of Intergroup Conflicts in Selected Universities in Southwestern Nigeria(2015-05-14) Osezua, Ehiyamen MediayanoseThis study examined intergroup conflicts in selected universities in Southwestern Nigeria and identified their causes. This was with a view to examine its effects on the universities and proffering appropriate management strategies in resolving them. The study utilized primary and secondary data. Primary data were collected through questionnaires and in-depth interviews. Two types of questionnaires were used to elicit information from the students and the other from the academic and non academic groups. Six universities consisting of two each of federal, state and private were purposively selected for the study, namely: Obafemi Awolowo University, Ile-Ife, Federal University of Technology, Akure, Lagos State University, Ojoo, University of Ado-Ekiti, Ekiti, Babcock University, Ilisan-Remo and Covenant University, Ota. The study populations of the selected Universities consist of students and staff. From each group 10 % of each was sampled, namely: students (1008), academic (302) and non-academic (583). A total of 1,893 questionnaires were administered. From the questionnaires distributed, 956 were retrieved from the students, 291 from academics and 560 from non-academics. A total of 72 key officers of the universities were purposively selected for the interviews. These comprised the Deputy Vice-Chancellors, Registrars, Deans of student affairs and Director of personnel affairs, while for the various groups in the universities were Presidents, Secretaries and Financial Secretaries. Secondary data were obtained from central administration of the six universities, the National Universities Commission (NUC) reports and the internet. Descriptive and inferential statistics were used for the analysis of quantitative data, while content analysis technique was used for the qualitative data. The study showed that there was no significant difference among universities with respect to the identified causes of intergroup conflicts (X2 = 3.54; p > 0.05). The results of the ANOVA also showed, that there was no significant difference of responses between students and academics across the universities. They all traced the causes of conflicts to such things as incessant strikes, improper teaching and learning, sexual harassment and methods of discipline. Between academic and non-academic staff across the universities there was also not much variation in their opinion on such issues as, pay parity (F = 0.73, P >0.05), welfare benefits / arrears and packages ( F= 1.04, P>0.05), promotional entitlements (F = 0.36, P > 0.05) selfish interest of the leadership (F= 0.40, P >0.05). However on the matter of divide- and –rule tactics of university administration, the study showed significant difference among the universities (F=3.67, P<0.05). University administrations in Federal universities were perceived to have more inclination towards this tactics. Regarding their use of intergroup conflict management style; there was no significant difference across universities in their use of structural strategy (F=0.25, P>0.05). There was however variation among them in their use of communication strategy (F=12.79, P<0.05), process strategy (F = 37.56, P<0.05) and formal dispute style (F=8.96, P <0.05). The study showed that State universities adopted more than others, the, process and communication strategies, while the private Universities employed the use of structural strategy. The Federal Universities were more disposed to the use of formal dispute strategy. Finally, the content analysis showed that the effects of conflicts as identified by the groups were negative and positive. The negative effects included mutual distrust, protracted academic session, loss of lives, destruction of properties and suspicion, while the positive effects were provision of better facilities, availability of more funds for the universities and fostering of better intergroup working relations. The study concluded that although the identified causes of conflicts in the selected universities appeared similar, strategies engaged by university administrators differed significantly across the selected universities.
- ItemOpen AccessNigeria's Policy towards South Africa (1960-1979).(Obafemi Awolowo University, 1985) Bakare, Kolawole Muheeb; Layi, AbegunrinNigeria's policy towards South Africa's obnoxious apartheid system is the focus of this study. Pinpointing and examining some of the factors responsible for the country's stance on apartheid policy, this four chapter study lays emphasis on Nigeria's stand against apartheid. It is therefore our view that right from the Balewa (1960) to Mohammmed - Obasanjo regime (1979), the policy has been somehow cautious and no drastic changes have occurred. Consequently, what occurred within all the different administrations could be found in styles, emphases and priorities.
- ItemOpen AccessNigerian Petroleum Policy and External Relations.(Obafemi Awolowo University, 1984) Soremekun, Olukayode; Onwuka, R. I.This study is on Nigerian Petroleum Policy and External Relations. It utilizes Michael Brecher's theoretical frame -work to analyses the various inter-play of forces in the internal and external environment of the Nigerian petroleum industry. The actors, organs and influences in Nigeria's petroleum. It was revealed that owing to the psychological and sociological dispositions of Nigeria's decision makers, a substantial measure of incoherence exists in the formulation and implementation of petroleum policy in Nigeria. The study goes on to analyses the novel postures adopted by the Nigerian state towards the multinational oil companies. These include production sharing agreements, risk-service contracts and joint participation programmes. The potency of these measures were however questioned, since the oil companies continue to control the nucleus of operations in this industry. The study also examines the general issue of the linkage between petroleum and foreign policy. Specifically there was a focus on Nigeria's use of the oil weapon in International relations. It was shown that this attempt by Nigeria is beset with certain fundamental limitations. Against this background, in the concluding chapter, the thesis comes up with policy prescriptions which are designed to accord coherence and direction to Nigerian petroleum policy and external relations.
- ItemOpen AccessNuclear Threat in Africa: What Option for Nigeria.(Obafemi Awolowo University, 1986) Oyedepo, Hezekiah Bamidele Olatunji; Ojo, M. A.Africa was left out of nuclear debate until recently today; South Africa is known to have engaged in a lot of nuclear activities. This development has generated some concern in Africa because it is seen as a ploy to delay the achievement of self-termination, political independence, and majority rule within African continent - a region Nigeria seeks to lead. This study examines the development of nuclear capabilities in Africa, particularly South Africa; the amount of threat the South African clear facilities generate in Nigeria; and Nigeria's option in the face of the apparent nuclear threat in Africa. Decision-making model is used as one of the theoretical frameworks for this study. The approach is based on State's perception of the external and internal environmental factors in foreign policy decision-making. Examples of such decision-making can be seen in the Nigerian government's decision to change from advocating for a 'nuclear-free-zone' for Africa to actively seeking nuclear capabilities. We also examine how excessive nuclear South Africa have influenced Nigeria, and indeed, countries (that have the wherewithal) to seek for of their States under nuclear umbrella is descriptive and analytical, and most of the materials are Nigerian, British, American, South African, Adonis official documents and publications, and relevant; books, academic journals on the issue of Nigeria's Plans on nuclear acquisition and South Africa's Nuclear Capabilities. The findings are that: While a number of African countries; lean, only South Africa presently has nuclear weapon that can credibly threaten Africa; and the extent threat perceived by other African States, including vividly demonstrated in the decisions of some of them actively seek nuclear capabilities; In conclusion, it is Nigeria can best repulse South African nuclear loping her (Nigeria's) economic and industrial base economy (as Nigeria is now) is in itself a threat security.
- ItemOpen AccessProblems and Prospects of Local Government Internally Generated Revenue in Oyo State, Nigeria.(Obafemi Awolowo University, 1987) Adegboye, Michael Babatope; Aborisade, OladimejiThis thesis examined the efforts of 6 urban and 10 rural local governments at internal revenue generation in Oyo State. This was based on the premise that the ability of local governments in urban areas to generate revenue internally is much higher than those in rural areas due to the existence of industries and commercial activities. Parametric and non-parametric statistics were used to determine not only the disparity between rural and urban local government grouping efforts but also to ascertain the strength of the variables affecting revenue generation. The study sustained the hypothesis that the ability of urban local governments to generate revenue internally is greater than that of the rural local governments. It also revealed that there had been a noticeable trend towards improved revenue generation in urban and rural local governments in Oyo State and that population per se is not a decisive factor in generating revenue. The study however revealed that the most recurrent constraint to revenue generation relates to collection rather than to the size of the local government. It therefore suggested a periodic collection of revenue by revenue collectors trained in book-keeping and accounting. The study concluded that increasing the share granted local government in the Federation Account from 10% to 2C% in addition to increasing local government share of personal income tax will improve the financial positions of local governments in Nigeria.
- ItemOpen AccessThe Relationship between Academics and Administrative Staff in Selected Nigerian Universities.(Obafemi Awolowo University, 1986) Ojutiku, Doyinsola Eniola Mrs; Adamolekun, O.This thesis examined the causes of such conflicts that are noticeable between the academic and the administrative staff groups in the Universities of Ibadan, Ife and Lagos. It attempts to determine whether conflict is caused by an organizational structure which places decision-making powers in the hands of academics with little direct participation by other staff groups. Subjects were sampled for their perception of the roles of the different staff groups in University governance. This was to test the assumption that the relationship between these two staff groups is strained because of inadequate or non-inclusion of the administrative and other staff groups in University policy-making processes. The analytical framework for the research relates the preferences of the two groups of actors for one or the other of the existing dominant organizational models for the study of Universities. Some determinants of human behaviour such as age, rank and tenure in the organization were also used to assess group interaction and ensuing relationships. While simple cumulative averages of responses and percentages were used in the data analysis, the chi-square test was used to identify statistically significant relationships. The study found evidences of conflicting reciprocal images between the academic and administrative staff arising from each groups perception of their roles. This most often resulted in conflicts but such conflicts were not always destructive. The findings suggest that better staff training L. role performance might reduce areas of conflict, lead to greater understanding of each other's roles and enhance better functioning of the University system.
- ItemOpen AccessThe Role of Foreign Private Investors in the Industry Development of Nigeria: A Test Case of "X" Breweries Limited(Obafemi Awolowo University, 1984) Yusuff, Oyindunla FMost developing economies seek to industrialize as a way to reduce excessive reliance on the agricultural section which is vulnerable to adverse economic conditions. The industrialization pattern is to sponsor programmes promoting the indigenous manufacture of import substitutes. This pattern often involves both local and foreign investment of capital and technical know-how, which invariably is supplied by foreign partners. The beer industry in Nigeria deserves attention because of its recent phenonemenal expansion. There was only one brewery in 1949, producing barely half-a-million hectoliters of lager beer per annum. By 1982 there were twenty-three breweries capable of producing fourteen million hectoliters per annum. This study examines the involvement of some foreign private investors in a new brewery project, in partnership with an indigenous entrepreneur. Foreign participation in industrial ventures in Nigeria takes two principal forms, provision of technical know-how and management, and equity contribution. These forms are examined in relation to the test case. The study also examines the local sources of funds for 1. The identities of the indigenous entrepreneur and the foreign investors involved are not disclosed in accordance with an undertaking given to them industrial activities. Finally, a forecast of the future of the beer industry is made in terms of the investment opportunities in the form of technical knowhow or equity contribution, or both.